Title
Discuss terms and conditions that the City might be willing to offer to terminate a lease.
Summary
DESCRIPTION OF TOPIC: (who, what, when, where, why, and how much)
Consider going into Executive Session to discuss the terms and conditions that the City might be willing to offer to terminate a lease agreement.
SOURCE OF FUNDING:
Please provide the amount requested: ____________
Is this a budgeted item? Yes /No
Please provide the budgeted amount: $_____________ Account No. ___________________________
If budgeted, is this a capital purchase, capital project, or special fund? _________________________
Was this item included in the Fiscal Year Capital Projects Plan? Yes/No
If yes, please provide the amount included in Capital Projects Plan: $___________
Body
WHEREAS, the City entered into a lease agreement with Gulf Tide Development, L.L.C. for public parking located north of the Community Development Department, and more particularly described as follows:
Lots 6, 7, 8 and parts of Lots 5, 9 and 10 in Block 9, Foley, Alabama as recorded in Map Book 1, Page 25 in the Office of the Judge of Probate, Baldwin County, Alabama, being more particulary described as follows:
Beginning at the Northwest corner of Lot 5 in Block 9, Foley, Alabama, as recorded in Map Book 1, Page 25 in the Office of the Judge of Probate, Baldwin County, Alabama; thence run South 89 degrees 46 minutes 39 seconds East along the North line of said Lot 5, 89.03 feet; thence departing the said North line, run South 0 degrees, 06 minutes, 49 seconds West, 12.00 feet; thence run South 89 degrees 46 minutes 39 seconds East, 36.00 feet to a point on the West right-of-way line of an alley, having a 25 foot right-of-way; then run South 0 degrees 06 minutes 49 seconds West along the West right-of-way line, 98.82 feet; thence departing the said West right-of-way line, run North 89 degrees 48 minutes 26 seconds West, 36.06 feet; thence run South 0 degrees 11 minutes 07 secon...
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